Immutable X price volatility to increase with $2.19 million worth of IMX tokens flooding markets daily


  • Immutable X has been a strong performer in the gaming scene since December.
  • 1.20 million IMX tokens worth $2.19 million will flood markets daily in a linear unlocks.
  • Despite the bearish nature of unlocks, the gaming token could surge with tokens up for sale.
  • A break and close below the $1.50 level would invalidate the bullish thesis.

Immutable X (IMX) price did well across December, with the gaming and metaverse sectors standing out while contending ecosystems struggled. While the project eventually found inflection with holders cashing in, things may change soon as the network has a linear unlocks event that will line up for the next month.

Also Read: ImmutableX Price Forecast: A potential 15% rally could be killed by spot Bitcoin ETF approval

Immutable X linear unlocks to start on Thursday

Immutable X (IMX) price volatility could increase soon, with the network preparing for a linear unlocks beginning Thursday, January 25. The event will go on for the next 28 days, with 1.22 million IMX tokens worth $2.19 million poured into the market daily during this time.

IMX Token Unlocks

While some of the allocations will go towards ecosystem and project development and others to the foundation reserve, a significant amount will be channeled towards public and private sales, which could catalyze a value surge.

IMX Token Allocations

Meanwhile, the Immutable X price action has consolidated into a falling wedge pattern, which is a bullish technical formation that occurs when an asset’s price oscillates between two downward sloping converging trendlines and signals a reversal of a downtrend.

Immutable X price outlook with a falling wedge pattern in play

With a falling wedge pattern in action, the gaming token’s market value could be due for a strong move north soon with break above the upper boundary of the chart likely to happen soon. This will be confirmed by a break and close above the $2.00 psychological level.

In a highly bullish case, the gains could see Immutable X price extend the gains past the $2.50 level to reclaim the $2.59 range high. Such a move would constitute a 40% climb above current levels.

IMX/USDT 1-day chart

In the meantime, the odds continue to favor the downside, with both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicator below their respective mean lines. With this, Immutable X price consolidation within the falling wedge pattern could continue for a few days before the forecasted bold move north happens.

If the bears have their way, however, Immutable X price could break below the lower boundary of the channel, potentially tagging the 100-day SMA at $1.53. In the dire case, IMX could extend the fall to the $1.50 level, below which the bullish thesis would be invalidated.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch

Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch

Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.

More Bitcoin News
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers

Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers

Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins. 

More Bitcoin News
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction

Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction

Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.

More Solana News
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs

SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs

The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.

More Cryptocurrencies News
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP